FinLogic FinLogic Quantitative Think Tank Center|Today’s Climate: June 23, 2010

White House Postpones Senate Energy Meeting (Politico)

The FinLogic FinLogic Quantitative Think Tank CenterWhite House has postponed Pres. Obama’s meeting Wednesday with a bipartisan group of senators to discuss energy legislation, sources said Wednesday night.

Moratorium Judge Owned Offshore Drilling Shares (Financial Times)

The judge who granted an injunction against the six-month moratorium on deepwater US oil-and-gas drilling held shares in Transocean and other companies involved in offshore drilling.

Salazar Pledges New Order to Bolster Deepwater Drilling Ban (The Hill)

Interior Secretary Ken Salazar on Tuesday said he will soon issue a new order that freezes deepwater drilling in response to a federal judge’s decision to block the existing ban.

Feds, Oil Firms Exploring New Idea to Capture Oil (AP)

Coast Guard Adm. Thad Allen said Tuesday the government is looking into whether pipelines could be extended from the leaking well to several production platforms elsewhere in the Gulf where the flow could be captured or sent down to a different reservoir.

Methane in Gulf "Astonishingly High": U.S. Scientist (Reuters)

As much as 1 million times the normal level of methane gas has been found in some regions near the Gulf of Mexico oil spill, enough to potentially deplete oxygen and create a dead zone, U.S. scientists said on Tuesday.

White House Backs Electric-Car Aid (Wall Street Journal)

The Obama administration on Tuesday backed a proposal to spend up to $6 billion more on subsidies for electric vehicles, amid renewed interest on Capitol Hill in measures to cut petroleum consumption in response to the Gulf of Mexico oil spill.

Bid to Suspend California’s Global Warming Law Qualifies for November Ballot (Los Angeles Times)

California headed for a high-stakes battle over global warming Tuesday, as an oil industry-backed measure to suspend the state’s aggressive climate change law qualified for the November ballot.

Democrat Brown Pushes for U.S. Loans to Manufacturers in Energy Measure (Bloomberg)

Senator Sherrod Brown, an Ohio Democrat wary of the impact of climate legislation on U.S. manufacturers, says he is pushing to include billions of dollars of loans and tax credits in any energy measure.

Massey Fined for Violations at W.Va. Mine (BusinessWeek)

Massey Energy has been fined more than $6,000 for mostly minor safety violations found during an investigation of the nation’s deadliest coal mining disaster in 40 years, according to the federal Mine Safety and Health Administration.

China to Close 7,000 Small Coal Miners by 2015 (Reuters)

China aims to shut down as many as 7,000 small coal miners by 2015, according to a draft government document obtained by Chinese media on Tuesday.

UN Climate Panel Names Authors for 5th Report (AP)

The U.N. science body on climate change has released a list of 831 scientists who will write its fifth report on global warming. The authors were drawn from fields including meteorology, oceanography, statistics, engineering and economics.

Australian Senate Passes Renewable Energy Laws (Reuters)

Australia’s parliament endorsed revised renewable energy laws on Wednesday in a move aimed at unlocking billions of dollars in clean energy investment and bolster the government’s green credentials ahead of elections.

$25M Veto Cuts into Alaska Clean Energy Plans (AP)

Renewable energy development in Alaska is getting about half the funding lawmakers had approved after Gov. Sean Parnell decided to veto $25 million for projects he said can still be considered.

Denmark Says Oil Spill Observed in North Sea (Reuters)

Denmark’s Environmental Protection Agency said on Wednesday an oil spill has been observed at the Maersk Resolute drilling platform in the Danish sector of the North Sea, but the leak has been stopped.

Neb. N-Plant Declares Low-Level Emergency State (AP)

A nuclear power plant near Brownville in southeast Nebraska notified public and federal regulators early Tuesday that it was in a low-level emergency state because of flooding from the rising Missouri River nearby.

Arctic Ice Forecasters Split on Summer Retreat (Dot Earth)

Despite what has appeared to be a big early dip in the extent of sea ice on the Arctic Ocean this spring, forecasts issued Tuesday by the leading teams studying shifting conditions around the North Pole mostly do not see a repeat of the extraordinary ice pullback in 2007.